We test for long–run real interest rate parity involving the ten new member states that joined the European Union in 2004 and the US, UK and Germany. We utilise a novel panel data approach whereby unit root tests are conducted within a seemingly unrelated regression framework. This...

This study investigates whether or not UK industrial production is characterised by a nonlinear response to monetary shocks. Our methodology is based on logistic smooth transition vector autoregression modelling where we employ monthly data for the period January 1960 to August 1999. We find...